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      <p>Merkel and Sarkozy convinced that Greece will stay in Euro</p>
<p>French President Nicolas Sarkozy and German Chancellor Angela Merkel said they are “convinced” Greece will stay in the EuroArea and that Greek budget cuts will restore stability to markets amid International calls for Europe to step up crisis-fighting efforts.</p>
<p>The leaders of Europe’s 2 largest economies issued a statement after they spoke to Greek Prime Minister George Papandreou by telephone Wednesday, and Mr. Papandreou committed to meet deficit-reduction targets demanded as a condition for an International bailout, according to statements distributed by the governments in Athens, Berlin and Paris.</p>
<p>Mr. Sarkozy and Ms. Merkel “are convinced that the future of Greece is in the EuroZone,” the French statement said.</p>
<p>Berlusconi’s Austerity Plan wins Final approval</p>
<p>Prime Minister Silvio Berlusconi won final parliamentary approval for a 54-B Euro (US$74-B) austerity package that seeks to balance the budget by Y 2013 in an attempt to stem Italy’s surging borrowing costs.</p>
<p>The 630-seat lower house approved the plan Wednesday night after backing the government earlier in a confidence vote called to speed passage of the measure.</p>
<p>Police had to use tear gas to disperse demonstrators outside the parliament in Rome as the vote was being carried out.</p>
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<p>Paul A. Ebeling, Jnr.</p>
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    Posted by  <a href="http://www.livetradingnews.com/author/Penny" title="Posts by Shayne Heffernan" rel="author">Shayne Heffernan</a> on Sep 14th, 2011and filed under<a href="http://www.livetradingnews.com/category/currencies" title="View all posts in Currencies" rel="category tag">Currencies</a>, <a href="http://www.livetradingnews.com/category/currencies/economic-indicators" title="View all posts in Economic Indicators" rel="category tag">Economic Indicators</a>, <a href="http://www.livetradingnews.com/category/markets/foreign_exchange" title="View all posts in Foreign Exchange" rel="category tag">Foreign Exchange</a>, <a href="http://www.livetradingnews.com/category/currencies/foreign-exchange" title="View all posts in Foreign Exchange" rel="category tag">Foreign Exchange</a>, <a href="http://www.livetradingnews.com/category/home/news_and_events/forex-news_and_events" title="View all posts in Forex" rel="category tag">Forex</a>, <a href="http://www.livetradingnews.com/category/home/latest-news" title="View all posts in Latest News" rel="category tag">Latest News</a>.You can follow any responses to this entry through the<a href='http://www.livetradingnews.com/eurusd-news-update-54290.htm/feed'>RSS 2.0</a>Responses are currently closed, but you can trackback from your own site.</div>			<div style="clear:both"></div>
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